King Luther Capital Management Corp Reduces Position in Broadridge Financial Solutions, Inc. (NYSE:BR)

King Luther Capital Management Corp decreased its position in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,989 shares of the business services provider's stock after selling 1,870 shares during the quarter. King Luther Capital Management Corp owned 0.22% of Broadridge Financial Solutions worth $57,877,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC boosted its holdings in Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider's stock worth $32,000 after purchasing an additional 142 shares during the period. Fortitude Family Office LLC lifted its stake in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider's stock valued at $35,000 after buying an additional 111 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Broadridge Financial Solutions in the third quarter valued at $39,000. Global X Japan Co. Ltd. bought a new stake in shares of Broadridge Financial Solutions during the fourth quarter valued at about $41,000. Finally, Truvestments Capital LLC bought a new stake in shares of Broadridge Financial Solutions during the third quarter valued at about $45,000. Institutional investors and hedge funds own 90.03% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. UBS Group upped their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. DA Davidson reiterated a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $239.17.

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Broadridge Financial Solutions Trading Up 1.0 %

BR traded up $2.19 during midday trading on Friday, reaching $227.76. 297,669 shares of the company were exchanged, compared to its average volume of 472,901. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $246.58. The stock has a market capitalization of $26.65 billion, a P/E ratio of 35.64 and a beta of 1.05. The stock's 50-day simple moving average is $235.43 and its 200 day simple moving average is $225.77.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the firm posted $0.92 EPS. As a group, analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 13th will be issued a $0.88 dividend. The ex-dividend date is Thursday, March 13th. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. Broadridge Financial Solutions's payout ratio is presently 55.09%.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 22,357 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares of the company's stock, valued at $12,355,220.52. This represents a 29.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 95,956 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares of the company's stock, valued at $39,973,188.84. The trade was a 36.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,754 shares of company stock valued at $29,397,793 in the last 90 days. Corporate insiders own 1.30% of the company's stock.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.